The aerospace 3D printing market will continue to grow at a relatively fast rate, with the market size expected to grow to $5 billion by 2025. Aircraft and engine manufacturers are eagerly relying on the technology to develop lightweight components.
3D printing is a type of technology, also known as additive manufacturing. It is a technology that based on digital model files, using 3D printers to construct objects layer by layer with bondable materials such as powdered metal or plastic. In recent years, 3D printing has become an important technology in the aerospace industry, helping aerospace equipment reduce weight, save fuel, improve operational efficiency, integrate components, speed time to market and reduce storage requirements for parts.
The aerospace 3D printing market is segmented on the basis of vertical type into hardware, software, materials and services. The services segment is expected to witness the highest growth in the aerospace 3D printing market over the forecast period owing to the use of various materials to print engine and structural components. Moreover, development of new materials to 3D printing components to withstand high temperatures and extreme environments is likely to increase the demand for in the coming years. Major aircraft manufacturers such as Boeing and Airbus are accelerating the adoption of the technology to achieve faster production processes, reduce wastage, and shorten the supply chain.
Based on the type of products printed, the aerospace 3D printing market can be segmented into engine components, structural components and space components. The market is expected to continue to grow due to the increase in aircraft deliveries and increase in the use of lightweight materials and development of high precision parts in a shorter period.